Advaxis Inc (NASDAQ:ADXS) reported second quarter earnings before the bell today, that beat street view.
On a GAAP basis, ADXS reported net loss of $ 13.41 million or 27 cents per share, compared with loss of $ 20.47 million or 51 cents per share, a year ago period.
Headquartered in Princeton, New Jersey, ADXS recorded revenue that decreased 49% to $ 1.75 million from $ 3.42 million in the same quarter last year.
Analysts polled by Thomson Reuters expected Advaxis to reveal loss of $ 0.43 per share on revenue of $ 2.40 million for the second quarter.
Everything we are striving to accomplish depends on focus and optimal allocation of resources, and is designed to maximize shareholder value. We are dedicating more resources to the HOT program because these assets scored very high when we conducted our portfolio review, said Mr. Berlin.